The US investment banks are pledging millions of dollars in payments to both charities and small businesses, in a Hurricane Sandy relief effort that ranges from donations and small business loans to sponsoring food trucks.

In the latest contribution, Jefferies said in a statement that on Wednesday it will donate all net trading commissions from US, European and Asia equity, fixed income, futures, foreign exchange and commodities trading to the relief efforts.

The firm itself is also donating $1m, and all employees worldwide will be given the opportunity to donate Tuesday's salary. Jefferies said the contributions will be allocated to the American Red Cross and other charities.

Richard Handler, chairman and chief executive, said: “We ask for the support of investors around the world and offer our platform as a means to provide relief to those in need."

The Jefferies donation adds to contributions from across Wall Street:

Bank of America

The Bank of America Charitable Foundation said it will donate $1m, including $500,000 to the American Red Cross Hurricanes 2012 fund and the rest to national, regional and local nonprofits to support long-term recovery needs. In addition, the bank will match employee pledges to relief efforts.

The Citi Foundation has donated $1m to the American Red Cross, in addition to the foundation's annual $500,000 grant to the Red Cross to support its Annual Disaster Giving Program. Citi ThankYou Rewards members can also use their points to make a donation to the American Red Cross at www.thankyou.com.

Goldman Sachs

The bank and its charitable fund, Goldman Sachs Gives, will donate $5m to Hurricane Sandy clean up and recovery efforts, and another $5m in loans to small businesses in areas that lost power and suffered severe flooding. These small business funds match the $5m in New York City funding announced by Mayor Bloomberg and will be made through the New York Business Development Corporation, a non-bank lender which will then make the loans to the small businesses.

In addition, employees will be volunteering with a number of area community groups to aid in clean-up, food delivery and rebuilding in the coming weeks and months. Last week, the bank also offered water and charging facilities to residents of Battery Park, neat its headquarters.

JP Morgan

The bank has pledged up to $5m in charitable donations for relief and recovery efforts and up to $5bn in lending to small and mid-size businesses directly affected by the storm at discounted fees and rates. Customers have the opportunity to donate to the American Red Cross with Ultimate Reward points.

In addition, the bank paid for food trucks to give out free lunches and dinners in hard-hit areas such as Coney Island, the Rockaways and Staten Island where people have been lining up at food distribution points.

Wells Fargo

The bank will donate $1m, with $250,000 going to the American Red Cross Disaster Relief Fund and the rest to non-profit organisations conducting grassroots relief and recovery efforts in affected areas.

Blackstone

The Blackstone Charitable Foundation is partnering with its portfolio company, The Weather Channel (and co-investors Bain and NBCU), to match employee donations to the Red Cross Sandy Disaster Relief Fund up to a total of $1m.

KKR

Henry Kravis, the co-founder of the private equity firm, created the Partnership for New York City Fund in 1996 to fund small businesses in the city, and told Bloomberg that he wants to do something similar to fund infrastructure improvements to protect against future disasters.

BNY Mellon

The company plans to contribute at least $1m to the American Red Cross, local food banks and agencies engaged to support basic urgent needs in the wake of the storm through a $500,000 gift and $500,000 to match contributions made by its employees.